First Homes Scheme
Buy Your First Home with at Least a 30% Discount
First Homes Scheme
First Homes Scheme is a government-backed initiative designed to help first-time buyers in England take their first step onto the property ladder. Through this scheme, selected new-build homes are offered at a discount of at least 30% off market value.
Key Benefits
Minimum 30% discount on eligible new-build properties.
Price limits after discount has been applied:
- Up to £250,000 across England
- Up to £420,000 in Greater London
Local authorities may apply lower price caps.
How It Works
The scheme is available only on selected plots within certain developments in England.
Buyers must meet national eligibility criteria, and may also need to meet local authority requirements, such as a local connection or being a key worker or member of the Armed Forces.
Eligibility approval by the local authority is required before each purchase or resale.
The discount remains with the home: when you sell, the same percentage discount applies, and the new buyer must also meet the eligibility criteria.
This ensures long-term affordability for future first-time buyers.
Important Terms
Primary Residence
The home must be your only residence
Financing Requirements
You must finance at least 50% of the post-discount price through a repayment mortgage (or home purchase plan), and provide a minimum 5% deposit based on the discounted price.
Resale Restrictions
Resale value will reflect the original discount (e.g., if you bought with a 30% discount, you can only sell at 70% of market value)
Fixed Discount Percentage
Even if you improve your home or market values change, the discount percentage will remain fixed.
Interested in First Homes?
Speak to one of our Sales Consultants for more information and to find out if you’re eligible.
The First Homes scheme: first time buyer's guide explains in more detail the First Homes scheme including the application process, FAQs in respect of First Homes ownership, restrictions on letting the home and the process for selling.